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§ 11-616. General takeout allocation

West's Annotated Code of MarylandBusiness Regulation

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 11. Horse Racing (Refs & Annos)
Subtitle 6. Harness Racing (Refs & Annos)
Part II. Harness Racing Licensees (Refs & Annos)
MD Code, Business Regulation, § 11-616
§ 11-616. General takeout allocation
Currentness
A licensee whose average handle is $600,000 or less shall:
(1) allocate 0.32% of each mutuel pool to the Commission as State tax;
(2) subject to § 11-618 of this part, allocate 0.25% of each mutuel pool to the Maryland Harness Track Employees Pension Fund;
(3) allocate for purses 0.18% of each mutuel pool, or an amount that is otherwise agreed to by the licensee and the organization representing a majority of the harness owners and trainers in the State, which shall provide revenue in addition to any other funds set aside for purses by private parties;
(4) keep 18.00% of each regular mutuel pool;
(5) keep 20.00% of each multiple mutuel pool on 2 horses; and
(6) keep 26.00% of each multiple mutuel pool on 3 or more horses.

Credits

Added by Acts 1992, c. 4 § 2. Amended by Acts 1995, c. 590, § 1, eff. Oct. 1, 1995; Acts 1997, c. 750, § 1, eff. June 1, 1997; Acts 1998, c. 477, § 1, eff. June 1, 1998; Acts 1999, c. 291, § 1, eff. June 1, 1999; Acts 2000, c. 309, § 2, eff. July 1, 2000; Acts 2004, c. 97, § 3, eff. July 1, 2004; Acts 2014, c. 45, § 5.
MD Code, Business Regulation, § 11-616, MD BUS REG § 11-616
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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